Women and their future long term care needs

I just finished reading a great article on women and long term care in the Arizona Republic's Business section that gave a nice snap-shot of some important financial issues facing women during their retirement.  The article makes a valid point that women especially should consider long term care insurance, simply because they live longer than men and thus are more likely to collect on benefits.  What happens most of the time is the husband passes away first, but before he dies he has his wife there to help care for him.  Once he dies, the wife is alone and does not have that extra set of eyes looking out for her.  What is she to do?  This problem can be solved by planning for long term care before it's too late (after one is diagnosed with most diseases they can't qualify) by investing in themselves and buying long term care insurance.  Long term care insurance is certainly not right for everyone, typically we see people with liquid assets $100,000 and above purchasing this coverage to protect their nest egg that they worked so hard to save.  

Think about it, the last time you went to visit that aunt or grandparent in the nursing home did you see a lot of women?  Women make up about 65-80% of nursing home residents mainly because of their greater life expectancy.  However, just because women live longer it does not mean that they will be living those extra years completely independent.  Long term care insurance might make sense and even if you never use it you'll probably not be kicking yourself on the way up to the Pearly Gates.  It's similar to the fact that most people pay on the home owners insurance their whole lives and never use it, but are happy they did not have do.  The difference is that you have about a 1 and 1500 chance of making a $25,000 or more claim on your home owner's policy and about a 45% chance of needing long term care if you make it to 65. 

At LTCtree we are independent brokers who represent most all of the blue-chip companies and we'll simply shop the entire market of the blue-chips to find you the best deal and then mail it to you.  You'll have no agent sitting down at your kitchen table with us because we don't want to, and we know you don't what that either.  Take a second to fill in the form below and we'll mail you your quotes out today.  Thanks for reading our blog today, we really appreciate it.